Microsoft sets new record! Surpasses Tim Cook's Apple to become...., Satya Nadella's IT giant value reaches to....
According to the media reports, Microsoft's stock soared after the company reported strong results for the fiscal fourth quarter, with revenue up 18 per cent over a year earlier at $76.4 billion and net income up 24% to $27.2 billion. Microsoft's growth continues to be fueled primarily by growing demand for artificial intelligence-powered cloud services. A key takeaway from Microsoft's earnings report was an update on Azure and its cloud business, for the first time revealing its annual revenue reached over $75 billion with growth of 34 per cent year-over-year.
Azure's growth is estimated to be between 34% to 39% from many sources. This indicates that Microsoft is at the forefront of enterprise AI and cloud infrastructure. How much did Microsoft's revenue and profit increase last quarter?
Satya Nadella, Microsoft CEO, credited the company's remarkable performance to advancements in AI and cloud-related technologies. He pointed out that Microsoft AI products including Microsoft 365 Copilot and Azure AI Services, are quickly changing the way organizations operate.
In the meantime, Microsoft also disclosed its plans for the future. Essentially, it expects to invest $30 billion in capital expenditures in the next quarter, with an estimated annual capital spending of $120 billion. The goal is to bolster its AI framework. How is Satya Nadella shaping Microsoft's future?
Apple – whose flagship products are the iPhone and iMac – was once the most valuable company in the world. Apple now trails with its market capitalization sitting at $3.2 trillion. The reason for this is that Apple does not have a distinct advantage in terms of artificial intelligence, and this has impacted investors' perception of the company's future. Who still holds the top spot as the most valuable company?
NVIDIA, which was the first company to surpass the $4 trillion threshold in July, remains the most valuable company in the world. Its meteoric rise in value has come from its focus largely on AI technologies, but now, as Microsoft finds its footing as a leader in AI platforms, it is threatening NVIDIA's throne.
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